IsDB Group Startups Competition 2024

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ISDB GROUP STARTUPS COMPETITION 2024

The IsDB Group Start-ups Pitch Competition 2024 is an exciting initiative aimed at empowering Digital SMEs and startups to drive innovation, digitalization, and sustainable growth. Organized as part of the IsDB Group Annual Meeting and the 2024 PSF Private Sector Forum, this competition focuses on leveraging digital solutions for cross-border, interoperable, and cross-domain services. The goal is to foster local solutions that can make a global impact.

First Edition 2018

Objectives:

1. Innovation for Global Challenges:
- Encourage startups to address pressing global challenges through innovative, local solutions.
- Embrace digitalization to create positive impacts on Member Countries.

2.Theme Alignment:
- Align with the 2024 Private Sector Forum Theme “Cherishing our Past, Charting our Future: Originality, Solidarity, and Prosperity”.
- Concentrate efforts on two key pillars: Green, Resilient, and Sustainable Infrastructure; Inclusive Human Capital Development.

3.Thematic Focus:
- Fintech and Cyber Solutions: Explore solutions in data flow, cross-border digital platforms, mobile technology, cyber security, and digital arts.
- Sustainability & Supply Chain Solutions: Innovate in smart manufacturing, e- commerce, digital supply chain, logistics, and AgTech.
- Human Development & Social Services Solutions: Focus on digital health solutions and e-learning platforms.

This competition seeks to promote talent in the Member Countries

This competition focuses on leveraging digital solutions for cross-border, interoperable, and cross-domain services. The goal is to foster local solutions that can make a global impact.

The competition will be focused on three broad thematic areas:

Fintech and Cyber Solutions

Covering data flow solutions, cross-border digital platform solutions, mobile technology, intellectual property management, cyber security, and digital movement of creative art.

Sustainability & Supply Chain Solutions

Agri-Tech, smart manufacturing, e-commerce, digital supply chain, and logistics.

Human Development & Social Services Solutions

include digital health solutions cutting-edge e-learning platforms digital insurance to help in the role of innovative financial services.

Timeline

- March 24th: Launch of the 2024 Startups Competition

- April 24th: Deadline for submission of applications

- April 25th: Selection of the top 50 finalists

- April 26th: Selection of the top 10 finalists

- April 27-28th: Interviews with the top 10 finalists

- April 29th: Announcement of winners live at the Private Sector Forum

Winning the Startups Pitch Competition: The Pitch

The participants should provide a relevant, viable, scalable, desirable, and actionable concept proposal through their 2-minute video, for a product/market fit service/solution.

The two-minute pitch should address the following:

Value proposition/Problem
– What problem are you solving? Provide a brief story about the issue being considered by your innovation.

Solution
– What is the solution to the problem? Explain how your product/service works and how it is unique. Show a picture or video of the prototype or demonstration.

Market, Growth, and Revenue Model
– How big is your market? Who are the customers? What is the plan to scale the startup? How do you sustain the business / How is revenue generated? Has the innovation/product been tested? What volume of sales are you generating?

Areas of Interest
– Applicant will need to demonstrate critical challenges resolved through digitally enabled innovation solutions in the areas of Fintech & Cyber Solutions, Sustainability & Supply Chain, Human Development & Social Services Solutions.

Applications will be valid and examined only if the form is fully completed and the video is submitted online by the above due date.

Each Applicant will certify that the responses to the questions are truthful to the best of their knowledge and that they are prepared to provide supporting documents.

The pitches will be evaluated based on the following criteria:

Relevance
- Demonstrate a comprehensive understanding of the competition's purpose.
- Showcase digital startup ideas that align with clear visions and ambitions.

Viability and scalability
- Present economically viable solutions with a clear description of the technology.
- Showcase potential benefits and scalability for business growth.

Desirability
- Prove a clear and tested demand for the proposed service/solution.
- Articulate how the service meets the needs of the target clients and markets.

Actionability
- Demonstrate the ability to deliver the proposed service/solution within a one-year timeframe.
- Present a capable team with relevant expertise to implement the solution.

The IsDB Group Startups Competition Top Prize

The top three winners receive cash prizes, in-kind services, and a virtual platform to engage with mentors and participants.

The total Grand Prize package is worth $50,000

1st Prize: 10000SAR

2nd Prize: 7500SAR

3rd Prize: 5000SAR

This includes $15,000 in prize money, a 6-month mentorship with an Ecosystem Tech Company, and a 1-year subscription to digital tools/platforms.

IsDB GROUP STARTUP COMPETITION 2024

IsDB Group Private Sector Forum 2024

IsDB Group Startups Pitch Competition